It's a good car to learn on too. Everything is easy to get at, there are plenty of parts cars around, the motor was made for a while, etc. It's a car that's easy to maintain and easy on the wallet.
Don't jump all over the first one you see. Take your time & get a good one. Rust in the a-pillar is common around here, as is rust in the frame under the doors. Avoid those cars unless they're a giveaway.
The usual e30 problems all apply, plus M42 stuff like vac leaks, ICV & CPS but they're cheap to fix. Fuel pump, plastic water pump, cam drive system are spendy. Overheating is the biggest problem...it'll crack the head very quickly among other issues are the problems you might run into.
You have another option...you should check out the diesel versions too. Not as much fun, but likely cheaper to run.